Once again, the Ottawa real estate market achieves another major milestone with a record-breaking year in resale homes sold in August 2016 compared to August 2015, and the last five years. Here are some highlights of the market’s performance this past August:

● Two-storey and bungalow residential homes in the $300,000 to $400,000 price range, and one-level and two-storey condos in the $200,000 to $300,000 price range still continued to be properties in demand that were bought and sold.

● The average sale price increases for residential properties were in:
– 1 1/2-storey homes at $248,286 (up by 6%);
– 3-storey homes at $489,317 (up by 9.3%);
– bungalow at $358,995 (up by 4.1%); and
– split-level homes at $394,435 (up by 8.2%)

● The average sale price increases for condos were in:
– 2-storey homes at $231,919 (up by 4.6%);
– 3-storey homes at $303,929 (up by 14.5%); and
– one-level homes at $294,159 (up by 10.6%)

To read more about this great news, click on this market update report located here.

I welcome your thoughts on whether you think Ottawa is an affordable place to live.